Despite aggressive downward lurches in the gold price in recent years, gold miners remain reluctant to hedge their gold production.
The majority of new hedge books opened since gold's nominal peak in 2011 have been imposed by lenders or motivated by tactical cash flow concerns. London-listed Shanta Gold and Australia's Evolution Mining have both used hedging this year, but only as a 'last-dollar' funding technique, used to bring new mines into production, with the majority of their output remaining unhedged...............................................Full Article: Source